Apple has announced a major leadership transition, naming John Ternus as its next chief executive officer, effective September 1, 2026. Current CEO Tim Cook will move into the role of executive chairman, continuing to support the company’s strategy and global policy engagement.

The decision, approved unanimously by Apple’s board, follows a long-term succession planning process. Cook will remain CEO through the summer to ensure a smooth transition before formally stepping into his new position. Ternus, currently senior vice president of Hardware Engineering, will also join Apple’s board of directors.

The transition marks the end of a 15-year tenure in which Cook transformed Apple into one of the most valuable companies in the world, overseeing major product expansions and a shift toward services and custom silicon.

A Successor from Within

Ternus is a longtime Apple executive, having joined the company in 2001. He has played a central role in hardware engineering across key product lines, including iPhone, Mac, iPad, and Apple Watch. He became vice president of Hardware Engineering in 2013 and joined Apple’s executive team in 2021.

Under his leadership, Apple introduced multiple product innovations and improvements in design, durability, and materials. He has also been involved in advancing Apple’s transition to in-house silicon and expanding its hardware portfolio.

His appointment reflects Apple’s preference for internal leadership continuity, maintaining a consistent approach to product development and long-term strategy.

Cook’s Legacy and Continued Role

Since becoming CEO in 2011, Cook has overseen significant growth at Apple. During his tenure, the company’s market capitalization increased from roughly $350 billion to $4 trillion, while annual revenue nearly quadrupled to more than $400 billion.

Cook also led the expansion of Apple’s services business into a major revenue driver and oversaw the launch of new product categories, including wearables and spatial computing devices. His leadership emphasized privacy, sustainability, and accessibility as core company values.

As executive chairman, Cook will remain closely involved in Apple’s direction, particularly in external relations and policy discussions, ensuring continuity during the leadership transition.

Board Changes and Future Direction

As part of the reshuffle, Arthur Levinson will transition from non-executive chairman to lead independent director. The changes take effect alongside Ternus’s appointment.

The leadership transition comes at a time when Apple faces evolving challenges in areas such as artificial intelligence, hardware innovation, and global competition. With Ternus at the helm, the company is expected to maintain its focus on integrated hardware and software ecosystems while continuing to expand into new product categories.

The move signals a new chapter for Apple, balancing continuity with a generational shift in leadership as it navigates the next phase of growth.

Amazon has agreed to invest up to $25 billion more in Anthropic, significantly expanding their partnership around artificial intelligence infrastructure. The deal builds on Amazon’s previous $8 billion investment and includes an initial $5 billion injection, with up to $20 billion tied to future milestones.

As part of the agreement, Anthropic will commit to spending more than $100 billion over the next decade on Amazon Web Services (AWS) technologies. This includes using Amazon’s custom AI chips, particularly the Trainium family, to train and deploy its Claude models. Anthropic has also secured up to 5 gigawatts of compute capacity, reflecting the scale of infrastructure required to support growing demand.

The announcement comes as both companies seek to strengthen their positions in the increasingly competitive AI market, where access to large-scale compute resources is becoming a key differentiator.

Scaling AI Infrastructure at Massive Levels

Anthropic said it plans to bring nearly 1 gigawatt of Trainium2 and Trainium3 capacity online by the end of the year. The company’s reliance on AWS as its primary cloud and training partner signals a deepening alignment between the two firms.

The investment also highlights Amazon’s broader push into AI infrastructure. The company has indicated it could spend around $200 billion on capital expenditures this year, largely focused on expanding data center capacity and supporting generative AI workloads.

At the same time, Anthropic is facing rapidly growing demand. The company said increased enterprise adoption and rising consumer usage of its Claude models have begun to strain its infrastructure, affecting performance and reliability. The expanded AWS partnership is intended to address these constraints.

Intensifying Competition Among AI Leaders

The deal comes amid intensifying competition between leading AI companies and cloud providers. Anthropic’s main rival, OpenAI, has also secured large-scale infrastructure commitments, including a recent agreement with Amazon reportedly worth up to $50 billion.

Anthropic, founded in 2021 by former OpenAI researchers, has positioned itself as a major enterprise AI provider, with annualized revenue exceeding $30 billion. The company has also formed partnerships with other cloud providers, including Microsoft and Google, reflecting a multi-cloud strategy despite AWS being its primary partner.

The scale of these investments underscores a broader shift in the AI industry, where access to compute infrastructure is becoming as critical as model innovation. Companies are racing to secure capacity and build custom hardware to support increasingly complex models.

For Amazon, the expanded deal strengthens AWS’s position as a key provider of AI infrastructure. For Anthropic, it ensures access to the compute resources needed to scale its models and meet growing demand, as both companies prepare for what could be a new phase of competition in enterprise and consumer AI markets.

AI coding startup Cursor is in talks to raise $2 billion in a new funding round that could value the company at more than $50 billion, according to a CNBC report. The round is expected to be co-led by Andreessen Horowitz, with participation from Nvidia and Thrive Capital, all of which are existing investors.

The potential deal underscores continued investor enthusiasm for startups building AI-powered coding agents, a rapidly expanding category within enterprise software. Cursor has emerged as one of the leading players in this space, offering tools that automate software development tasks such as writing, testing, and debugging code.

The reported valuation marks a sharp increase from the company’s previous funding. In November, Cursor raised $2.3 billion at a $29.3 billion post-money valuation, following a $900 million round earlier in 2025. The new round, if completed, would nearly double the company’s valuation in less than a year.

Rising Competition in AI Coding Tools

Cursor was among the early startups to focus on AI coding agents, but competition has intensified as major technology companies expand into the space. Firms such as Google, Anthropic, and OpenAI have all introduced their own coding assistants, increasing pressure on independent players.

Despite this, Cursor has continued to differentiate its product by focusing on autonomous agent capabilities. In recent updates, the company added features that allow AI agents to test their own code, document actions through logs and screenshots, and provide more transparent workflows for developers.

The broader appeal of these tools lies in their ability to reduce the time and effort required to build software. By automating repetitive tasks and assisting with complex coding challenges, AI agents are becoming increasingly integrated into development pipelines.

Investor Momentum Behind AI Agents

The scale of the proposed funding round reflects a broader shift in venture capital toward AI infrastructure and developer tools. Investors are betting that coding agents will play a central role in how software is created, potentially reshaping workflows across industries.

Cursor’s existing backers include firms such as Accel, DST Global, and Coatue, as well as strategic investors like Google. Continued support from top-tier investors suggests confidence in the company’s long-term position despite increasing competition.

The reported funding discussions come at a time when demand for AI-driven development tools is accelerating. As organizations adopt these systems to improve productivity, startups like Cursor are attracting significant capital to scale their platforms and expand capabilities.

If completed, the round would further cement Cursor’s status as one of the most valuable companies in the emerging AI coding agent market.

OpenAI confirmed that ChatGPT experienced a major outage, preventing users from accessing the platform along with related services including Codex and its API. The disruption began Monday morning and quickly escalated, with thousands of users reporting issues across multiple regions.

According to outage tracking site Downdetector, reports surged throughout the morning, surpassing 5,000 incidents within hours. Many users said they were unable to load ChatGPT entirely, while others experienced failures when attempting to use developer tools or APIs.

OpenAI’s status page acknowledged the issue, stating that users were unable to access core services and that the company was actively investigating. At the time of the latest update, no clear cause had been identified and services had not been fully restored.

Widespread Impact Across AI Services

The outage affected not only ChatGPT but also OpenAI’s broader ecosystem, including its API platform used by developers and businesses. This suggests the issue may be tied to underlying infrastructure rather than a single application.

The disruption highlights how dependent many users and organizations have become on AI services for daily workflows. From coding assistance to customer support and content generation, outages can have immediate operational impacts.

The number of reported issues continued to climb throughout the morning, indicating the problem persisted for several hours. OpenAI has not yet provided a timeline for full resolution or details on what caused the disruption.